I have zero geology background and have been grateful for the insights of the geology experts on this board. Maybe they can help me understand something. If the 171 million tonnes could be reclassified from inferred to measured by simply drilling 10 shallow holes, when we had lots of time and available money (EE) and actually had a drill on site, what were the possible downsides to go ahead with that drilling? The upside to successful drill results is obvious, no charges for removing waste rock and a huge increase in net present value.
I suppose it could be argued that Teck already knows what is there and that going ahead with the drilling might have delayed the BFS over the several weeks/few months it would have taken to complete that drilling. But surely that is a weak argument, surely the spectacular difference it would have made to the BFS would have justified a modest additional delay in the BFS.
My concern (and again, I'm not a geologist) is that some expert geologist (Elmer?) would actually prefer to negotiate on the basis of the potential of the 171. Which suggests to me that he is worried about what drilling 10 shallow holes would actually reveal.
Can anybody explain any meaningful downside to Copper Fox, to have gone ahead with that drilling?
Still long and still buying over the last few days, but definitely concerned.
neofight
